Buda Entry-Level Homes: Affordability Check for October

What does an entry-level home cost in Buda when buyers face current borrowing rates? The median sale price for the bottom quartile of homes in August was $369,999 across 89 closed sales. This figure represents the threshold for entry-level affordability in this market segment. ALEX Intelligence calculated the monthly payment impact using a standard scenario: a loan amount of $295,999 on the median entry-level price with a 30-year fixed mortgage at 7.28%. The principal and interest payment totals $2,025 per month. To lower that burden, buyers can consider rate buydowns. A 3-2-1 buydown costs $13,752 upfront (3.72% of the price) to drop the rate in year one, saving $564 monthly. A 2-1 buydown costs $6,984 (1.89% of the price) to reduce the rate in year one, saving $385 monthly. The market for these homes remains active with a median living area of 2,103 square feet. However, the price per square foot has decreased by 6.5% compared to last year, now sitting at $172. This shift suggests that while the entry-level price point is stable, buyers are getting more space for their money relative to previous years. The median days on market for these homes increased by 18.6% year-over-year to 51 days, indicating a slightly slower pace of sale compared to the same time last year. For those looking at the broader Austin region, Buda's entry-level prices are currently below the regional median of $409,000. The data reflects a market where inventory is available, but financing costs remain a significant factor in determining total affordability for first-time buyers. Looking to buy in Buda? Get new listings the day they hit the market. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog MIT, Nvidia, Google & IBM-Trained. Cross Domain-Expert: Quantum, AI, Ethics, Sovereignty, Intelligence, Philanthropy. Solepoint Planning. VUI AI Cloud Architect. AI Certifications Development. Quant/AI Instructor. Castor Venture Club Member. Associate Broker. George Arnold Alexander III, MPA Director, ALEX Companies Associate Broker, Alexander Tiffany Southwest, LLC dba ALEX.realestate, et.al. Texas License #574878-B · Broker License #565194-BB Broker, ALEX Real Estate · North Carolina License #367733 Independent Broker, ALEX Real Estate · Colorado License #II.100112456 [email protected] · +1 713.918.9951